![]() ![]() In October 2010, Taobao beta-launched eTao as an independent search engine for online shopping to provide and merchant information from a number of major consumer e-commerce websites in China. ![]() Its market share grew from 8% to 59% between 20, while eBay China dropped from 79% to 36%. Taobao became mainland China's market leader within two years. ![]() It introduced instant messaging for facilitating buyer-seller communication and an escrow-based payment tool: Alipay. To counter eBay's expansion, Taobao offered free listings to sellers. It became a major contender in the Chinese consumer e-commerce market. ĮBay acquired Eachnet, China's online auction leader at the time, for US$180 million. With over 1 billion product listings as of 2016, the combined transaction volume of Taobao Marketplace and reached 3 trillion yuan in 2017. Taobao's popular payment platform is Alibaba's Alipay Taobao users usually read feedback and compare items from multiple shops. Auctions make up a small percentage of transactions, whereas the majority of the products are new merchandise sold at fixed prices. Sellers are able to post goods for sale either through a fixed price or an auction. Its stores usually offer an express delivery service. Taobao Marketplace facilitates consumer-to-consumer retail by providing a platform for small businesses and individual entrepreneurs to open online stores that mainly cater to consumers in Chinese-speaking regions ( Mainland China, Hong Kong, Macau and Taiwan) and abroad, which is made payable by online accounts. was registered on Ap by Alibaba Cloud Computing (Beijing) Co., Ltd. According to Alexa rank, it is the eighth most-visited website globally in 2021. It is headquartered in Hangzhou and is owned by Alibaba. Taobao ( Chinese: 淘宝 simplified Chinese: 淘宝 traditional Chinese: 淘寶 pinyin: Táobǎo) is a Chinese online shopping platform. "Taobao" in Simplified (top) and Traditional (bottom) Chinese characters ![]()
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